KUALA LUMPUR (Nov 21): Palm oil producer Sarawak Plantation Bhd (KL:SWKPLNT) has named Iswandi Ayub, 38, as its next group chief executive officer effective Jan 1, 2026. Iswandi, 38, is the grand nephew of the company's executive chairman Datuk Amar Abdul Hamed Sepawi.
According to Sarawak Plantation, Iswandi previously served as a residential advisor at Massey University Halls Community Group in New Zealand from 2009 to 2010 and later as a business analyst at ANZ Bank from 2010 to 2011. He joined Sarawak Plantation in 2012 as a trainee at the Niah Palm Oil Mill and has held various roles including research executive, head of the company’s strategic innovation centre and acting head of plantation operations. He has been chief operating officer since 2018.
The company reported a largely flat net profit of RM31.12 million for the third quarter ended Sept 30, 2025 (3QFY2025), compared with RM31.07 million a year earlier, as lower sales volumes of crude palm oil (CPO) and palm kernel offset higher average selling prices. Earnings per share edged up to 11.15 sen from 11.13 sen.
Quarterly revenue fell 6.3% to RM139.68 million from RM149.07 a year earlier.
Sarawak Plantation declared a second interim dividend of 15 sen per share amounting to RM42 million for the financial year ending Dec 31, 2025, payable on Dec 26, 2025.
In a filing with Bursa Malaysia on Friday, Sarawak Plantation said estate operations generated RM72.6 million in revenue and RM25.6 million in profit in 3QFY2025, while mill operations recorded revenue of RM124.7 million and profit of RM5.4 million. Oil palm operations, comprising estate and mill operations, contributed 99.8% of group revenue.
For the cumulative nine months ended Sept 30, 2025 (9MFY2025), the group's net profit grew 6.3% to RM80.62 million from RM75.84 million a year earlier, while revenue was flat at RM406.16 million from RM407.85 million.
Sarawak Plantation said it remains confident of improved production for FY2025 and expects better results, assuming stable CPO prices.
Sarawak Plantation shares closed down 4 sen or 1.29% at RM3.05 on Friday, giving it a market capitalisation of RM854 million. The stock has risen by 27.08% year to date.